Mother of NEST trashes 'pro-industry' pension transfer ban

Drake, who was acting chairman of the trust's predecessor the Personal Accounts Delivery Authority until 2010, said: "[The ban] can only support the industry, it cannot support employees." She also criticised the £3,600 cap on annual contributions to NEST, which, combined with the three month grace period employers have before they must enrol a new worker, will prevent casual workers from building a decent pot, she said. It will add complexity and expense to employers operating more than one scheme, she added. Short service refunds for contract-based schemes, which pensions ministe...